Strong sales in its Repreve polyester unit and lower raw material prices helped Unifi Inc. post net income of $2.4 million, or 12 cents a share, in the second quarter ended Dec. 23, compared to a net loss of $7.6 million, or 38 cents a share, in the same period a year earlier.
Net sales increased 3 percent to $172 million in the quarter from $167 million. Adjusted earnings before interest, taxes, depreciation and amortization improved 65 percent to $12.2 million, while gross profit advanced $5.8 million as a result of volume growth in each of the company’s operating segments.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"